Friday, October 19, 2012

Friday 10.19 Pre-mkt Outlook

The /ES closed yesterday at 1452 and looks to open around 1449.

$GOOG will be one to watch after the huge sell off yesterday and I'll be keeping an eye on the opening option flow. It also caught a downgrade this AM from oppenheimer. 700 looks to be key near-term support, and will probably determine whether it rises or declines.

$AAPL traded at a low of 629 in the pre-mkt which is lower than the OpEx put strike with the greatest number of contracts, 630. If apple drops below that, I may buy a 630 call expecting a pin between 630 and 640.

$MCD closed at 92.84 and is trading around 90 in the pre-mkt. That 90 level appears to be a key support level.

$CMG is down to a low that looks like 2yr support at the 250 level after earnings. It had closed the day prior at 285.

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